Tips for Avoiding Merchant Service Provider Fraud

Securing credit card processing services from a merchant service provider is key to doing business with modern consumers, for whom credit is the top payment method for purchases large and small. But you have to be careful, as the necessity of merchant accounts spawns fraudulent websites that serve three purposes: to gather your information to (a) use it for financial fraud, (b) sell it to someone else, or (c) to draw payment before closing the website down. Are there ways to avoid such scams as you go about equipping your business with the necessary accounts? Thankfully, the answer is yes. Below, we list four tips for avoiding fraudulent account providers.

1. Avoid websites that are hosted sub-domains

Because hosted sub-domains are easier and less expensive to start than single domain websites, scammers use them for temporary money gathering schemes that often last only weeks. While there’s nothing innately suspicious about websites that use hosted sub-domains, there is about an account provider that uses one instead of having its own domain. If you come across a provider that works out of a sub domain, move on to a provider that doesn’t.

2. Avoid providers that charge unusual fees

Paying fees in addition to tier pricing rates is part of doing business with a merchant service, but be on the lookout for fees that sound unfamiliar and aren’t collected by other providers. When doing business with a legit service provider, you can expect to pay the following fees: authorization fee, which occurs every time a bank that issued a card processes a transaction that the card initiated; statement fee, which goes toward general overhead; monthly minimum fee, which is the difference between your actual fees and your minimum fees allowed; batch fee, which occurs when you send in a day’s worth of transactions for payment; annual fee, which goes toward account maintenance; and an early account termination fee.

3. Avoid providers that have low page rankings

Providers with consistently high page rankings are preferable to those with lower page rankings for two reasons: their website is frequently visited, and is therefore open to more scrutiny; and they invest in making their website highly visible over the long-term, which is something scammers never do. A high page ranking is generally considered to fall within the first page and a half of search results.

4. Check with the Better Business Bureau (BBB)

After observing the tips above, it’s a good idea to check a company’s record at the BBB for unresolved customer complaints. Companies that care about their customers and their professional image always find a way to resolve customer complaints, regardless of the complaints’ nature. If a company has unresolved complaints on its record, it’s best to find one that doesn’t. Otherwise, the next unresolved complaint could be yours.

Merchant Services Gateway App For The iPhone

More and more people are opting for card payments lately. Their ease of use and convenience is making them a preferred option for all kinds of transactions. Thus, there is no need for customers to carry bulky cash or leave a product behind for shortage of cash. Another feature that makes it endearing for customers is that they get fast results.

Thus, for a merchant, it is inevitable to have the means for credit card processing nowadays. There are two ways in which this can be done: credit card terminal and online payment gateways.

In the case of the credit card terminal, you have equipment which processes card transactions. You swipe the card and enter user information which is used to authenticate the card. However, this is not a real time setup and takes about a day to get the charge levied. Another issue is that they run on electricity or via battery. Also, they need to be plugged in as information is sent through wires and cables. So, it is not a feasible option for sales persons and small time entrepreneurs.

On the other hand, online payment gateways are a secure and easy way to make credit transactions. But you need some means to connect to these gateways. With the launch of thousands of business applications that run on the iPhone itself, this is not a problem anymore.

This is how the merchant services gateway app for iPhone works. You enter the credit cards details and user authentication information and click the charge button. This information is then routed to payment gateways and validated. Once validated, the payment gets processed.

Thus, it provides one with mobility in addition to all other features that online mediums provide. Thus, the merchants can run their businesses from anywhere. He/She need not have dedicated phone and cable lines, credit card terminals or laptops to process payments via credit card.

In addition to mobility, the merchants can avail the various services provided by these applications. Payments via any card be it Visa or Master Card or any other, can be done using the Merchant services gateway app for iPhones. Merchants can also manage their accounts and keep a tab on their daily transactions. The interface also provides easy transfer of money. Another plus is that you can secure customers’ trust by preventing fraud and securing user information.

Thus, the iPhone can act as a portable gateway by itself. Once the application is downloaded, you can use the iPhone as a credit card terminal. Entrepreneurs can now tap into the customer base that was not accessible to them earlier. It is also useful for salespersons handling shows, stalls and small merchandise stalls in addition to full-fledged businesspersons.

Wireless Merchant Services for Online and Offline Businesses

In this generation, businesses are faced with various challenges, such as keeping up with the latest technology, including wireless processes and the of rise e-commerce. Because of the Internet, merchants and their online services are now a growing industry and they compete with traders that conduct their businesses offline. However, by the looks of the developments, online operations are winning.

Wireless merchant services are a part of the key factors that business owners must look into if they want to compete online. Of the advantages, the most important feature lies in its mobility. Because of the mobility feature, a businessperson is not required to be in his or her office to make a transaction and collect payments from clients. At the same time, the clients do not have to be physically present just to offer their payments for the goods that they want. As long as both parties have access to the Internet, they can both enjoy a hassle-free transaction.

Another advantage lies in the fact that computers are not always necessary to make business dealings feasible. Smart phones and tablets may also be used as alternatives. Because of this, proprietors may operate and track their business even while on the go.

Finally, since the service is wireless, businesspeople can avoid or skip the stress caused by endless cables hanging all over their shops or stores. All they need is a small space to place their terminals that would deal with the payments of their customers.

These types of merchant services are advisable for online businesses. Even storefront shops can enjoy every advantage that this modern day payment system can offer. These can include the ability to skip the hustle and bustle of lining up for long hours at the bank just to deposit daily sales or do withdrawals. Furthermore, business owners can also avoid losing clients who prefer to pay with their credit cards rather than cash.

Businesses that still follow the traditional payment method are more likely to have lesser sales at the end of the day. For one, people rarely carry large amounts of cash in their pockets anymore. Most people now prefer charging purchases to their cards. Given this, consumers usually lose interest in buying from a shop that does not accept this kind of payment, and may eventually find another store that sells the same product. In the end, a vendor does not merely offer goods; he or she also offers convenience to clients.

Naturally, business proprietors can spend more time with their family or friends because of less paperwork. Since the process is automated, they can also skip manually entering every transaction to their ledgers. At the end of the month, their providers would bestow them with copies of the transactions made throughout the month. Otherwise, they can always request for a statement of account or view it online.

Merchant providers offer different kinds of wireless solutions. It can be something that uses a landline, a virtual terminal or broadband connection. Because of this, it is necessary to identify the type of transactions that a business does before anything else.